Innergex Renewable Energy Inc. (TSE:INE) Receives Average Rating of “Hold” from Analysts

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$11.59.

INE has been the topic of several research analyst reports. Cormark cut their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. TD Securities raised their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Friday, February 21st. National Bankshares downgraded shares of Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Raymond James cut Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th.

Innergex Renewable Energy Stock Performance

TSE:INE opened at C$13.45 on Friday. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$13.63. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The firm has a market capitalization of C$2.76 billion, a PE ratio of -21.57, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The business’s fifty day moving average price is C$10.98 and its 200 day moving average price is C$9.63.

Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, March 31st. Innergex Renewable Energy’s payout ratio is -57.74%.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.